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Cook the Bacon: In a large pot over medium heat, fry the chopped bacon until it becomes crispy. Use a slotted spoon to transfer the bacon to a paper towel-lined plate, leaving about a tablespoon of bacon grease in the pot.
Sauté Vegetables: Add olive oil to the pot with the bacon grease. Toss in the diced onion, garlic, jalapeños, and red bell pepper. Sauté everything for 5-7 minutes until the vegetables become tender and aromatic.
Add the Spices: Stir in the smoked paprika, cumin, and cayenne (if desired). Cook for another minute to allow the spices to fully develop their flavors.
Simmer the Broth: Pour in the chicken broth, and bring the soup to a simmer. Let it cook for about 15 minutes, letting the flavors meld together.
Incorporate Cream and Cheese: Lower the heat, then gradually stir in the heavy cream and cream cheese cubes. Stir until the cream cheese is completely melted, and the soup turns smooth. Slowly add the shredded cheddar cheese, mixing it in until fully melted.
Season: Taste the soup and adjust the seasoning with salt and pepper as needed.
Serve: Ladle the soup into bowls, sprinkle the crispy bacon on top, and garnish with fresh cilantro for a burst of freshness. Serve it hot, and enjoy the rich, spicy, and cheesy goodness!
Prep Time: 15 minutes | Total Time: 45 minutes | Servings: 4
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